Weekly Newsletter 2025 Vol.76
Premia TNC E-Newsletter
Establishing international corporations and managing tax accounting information.
Tackling worldwide challenges and embracing global trends simultaneously!
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💡Weekly E-Newsletter
📩 Hong Kong | Employer and Taxpayer Tax Responsibilities
Taxpayers in Hong Kong must notify the Commissioner of Inland Revenue in writing within specific timeframes: within 4 months after the end of the basis period if liable to tax (unless a return has been issued); within 1 month of ceasing a business, employment, property ownership, or income source; at least 1 month before leaving Hong Kong for over a month (unless frequent travel is job-related); and within 1 month of any address change. Employers must report new employees likely chargeable to Salaries Tax within 3 months and notify the Commissioner at least 1 month before an employee ceases employment or leaves Hong Kong for over a month. No payments may be made to such employees within this 1-month period without written consent from the Commissioner. Obligations are fulfilled using Forms IR56E, IR56F, and IR56G.
💻 Singapore | OpenAI Launches Seoul Office to Meet ChatGPT Demand
OpenAI has expanded into South Korea by opening its first official office in Seoul, marking a strategic move to strengthen its presence in Asia amid a surge in ChatGPT adoption, as South Korea now ranks second globally in paid subscribers after the U.S. The company has also established a local entity and begun hiring to support partnerships and deepen local engagement. Highlighting Korea’s strong AI ecosystem, Chief Strategy Officer Jason Kwon noted the country’s strengths in semiconductors and software. Earlier this year, OpenAI partnered with Korean tech giant Kakao to co-develop AI products, aligning with its goal to integrate AI into everyday tools and services.
💰 Taiwan | Taiwan’s Tax Incentives for High-Income Foreign Professionals
Under Article 20 of Taiwan’s Act for the Recruitment and Employment of Foreign Professionals, foreign special professionals officially recognized for their expertise may receive a five-year tax incentive: if it’s their first time being approved to work in Taiwan through an Employment Gold Card or a Designated Foreign Professionals Work Permit and they reside in Taiwan for at least 183 days in a tax year while earning over NTD3 million, then 50% of the salary exceeding NTD3 million is exempt from income tax. However, if they initially entered Taiwan under a general work permit and only later obtained qualifying status, they are not eligible, as the first work-related residence must be as a foreign special professional.
📈 Vietnam | FDI Inflows into Hanoi Accelerate in Early 2025
In the first five months of 2025, Hanoi’s economy showed steady growth across multiple sectors. The Industrial Production Index rose by 5.5%, driven by gains in manufacturing, electricity, and water services. Despite a 7.2% drop in new business registrations and a 9.7% decline in registered capital, business activity remained dynamic with a 6.1% rise in resumed operations. Foreign direct investment surged to 2.87 billion USD, which is 2.6 times higher than the same period in 2024, mainly due to capital increases in existing projects, notably Gamuda Land’s Yen So Park. Exports reached 8.2 billion USD, up 13.1%, and tourism boomed with 3.21 million visitors, a 25.1% increase. State budget revenue hit 362.1 trillion VND, up 54.4%, with land use fees soaring. Overall, Hanoi experienced robust and stable economic development, laying a strong foundation for future growth.
🌐 Malaysia | E-Commerce Trends in Malaysia (Issue 3 of 3)
Malaysia’s e-commerce sector is rapidly expanding, driven by advancements in logistics and delivery infrastructure, including on-demand services like Lalamove and GrabExpress that meet the demand for fast, reliable delivery. Government investments are enhancing network efficiency and extending reach to rural areas, while emerging technologies such as AI, AR, and VR are transforming the shopping experience. The rise of mobile and social commerce, along with growing cross-border trade, signals a promising future. To thrive, businesses must embrace innovation, adapt to digital trends, and stay agile in this dynamic and evolving landscape.
🏛️ Dubai | MoHRE Enforces 2025 Midday Break
The UAE’s Ministry of Human Resources and Emiratisation (MoHRE) will enforce its Midday Break initiative for the 21st year from June 15 to September 15, 2025, prohibiting outdoor work between 12:30 pm and 3:00 pm to protect workers from extreme heat. With a compliance rate exceeding 99%, the initiative reflects strong private sector commitment to worker welfare. Companies are required to provide shaded rest areas, hydration, and cooling equipment, while certain urgent tasks are exempt. MoHRE will monitor adherence, imposing fines for violations, as part of the UAE’s broader vision to ensure a safe, humane work environment.
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Premia TNC June Holiday Notice
A vibrant month to celebrate progress, embrace change, and step confidently into new adventures. Let’s rise and shine! ☀️✨
🗞️Writer: Faraaz
🗞️Productor: Julia ⋅ Felice
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PREMIA TNC LIMITED / KORCHINA TNC CPA LIMITED
Founded in 2003, Premia TNC operates in Hong Kong, Singapore, Vietnam, Taiwan, Malaysia, Korea, and Dubai.
We provide consulting and accounting services, including corporate establishment, management, accounting, tax advice, and auditing.
Unit 706, 7/F, Tower 2, South Seas Centre, 75 Mody Rd, Tsim Sha Tsui, Hong Kong
TEL (+852) 6484 3419
[email protected]
